How do I approach a more experienced investor with a deal?

[Bryan Odom]

Hello All

I'm a new investor and haven't done my first deal yet. I'd like to find a deal and then ask a more experienced investor if they'd like to be  partners on it. I envision suggesting a 20-80 split of the profits (I'll get the 20%) and I'll get to go "shadow them" as we go through the process of closing the deal. 

When I've found a good deal, what is the best way to approach another investor? Should I have paperwork already prepared? Does it make sense to post about it in the forum?

Thanks in advance for your time.

[Bryan Odom]

Quote from @Account Closed:

Quote from @Bryan Odom:

Hello All

I'm a new investor and haven't done my first deal yet. I'd like to find a deal and then ask a more experienced investor if they'd like to be  partners on it. I envision suggesting a 20-80 split of the profits (I'll get the 20%) and I'll get to go "shadow them" as we go through the process of closing the deal. 

When I've found a good deal, what is the best way to approach another investor? Should I have paperwork already prepared? Does it make sense to post about it in the forum?

Thanks in advance for your time.

So much of what you are asking is related to knowing what a "deal" actually is. And, that definition varies from investor to investor. I'm pretty flexible because I use a lot of available techniques, but I see a lot of people claim they have a deal that I can't figure out how to make money on it.

So first and foremost, learn what makes a "deal" to the widest group of investors and don't be insulted if someone says it isn't a deal. It may not be a deal to him, that's part of your learning process.

That makes sense, Mike. Thank you!
I'm guessing that, when I attend meetups, it would be useful to ask other investors what a deal is for them. Then, I'll have a clearer sense of what to look for.